Bahraini business leaders drive for maximum benefits to Bahrain economy

Kingdom Investments has a majority ownership of the consortium, and includes 15 Bahraini companies and entrepreneurs with considerable management expertise, financial resources, retail and technical experience and expertise in the Bahraini market. Further, the company intends to float itself into a public shareholder company at the nearest opportunity.

Current shareholders in Kingdom Investments include, among others, E. K. Kanoo & Sons, Hussain Muskati & Sons, Securities & Investment Company BSC (Bahrain's leading securities finance house), Abdulla Yousif Fakhro & Sons, Yousif Al Hawaj & Sons, Mr. Yousif Al Saleh, and Y.K. Almoayyed & Sons.

A spokesman for Kingdom Investments said: "We believe that our approach to this bid will bring wide market benefits if we are successful in winning the license. We believe that being open to partnerships will mean new growth and opportunity for a wide community of companies and people in Bahrain as a result of the development of the second mobile licence and network. This is a primary goal for the Bahraini partners in Wataniya Telecom Bahrain. Together, we believe that we represent a deep understanding of competitive markets and the Bahraini environment, we have a commitment to Bahrain and its people, as members of the Bahraini community"

As well as the creation of direct employment opportunities that the formation of a new mobile operator will bring, Wataniya Telecom Bahrain will locate its substantial assets and operations in Bahrain and numerous opportunities will be created for Bahraini vendors and service providers. By following a partnership model, the consortium also believes that other opportunities in such areas as service and content provision can start to drive new opportunities, particularly for young people, inside and outside Bahrain.

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